Press Center
According to the 2009 BBMG Conscious Consumer Report14, 77% of consumers feel they can make a positive difference by purchasing products from socially or environmentally responsible companies. Furthermore, the report also showed that 72% of the consumers avoided buying from companies engaged in practices with which they disagree.
Therefore, it is important that consumers have confidence that diamonds they consider buying come from conflict free sources. Mining companies such as BHP Billiton, Rio Tinto, Alrosa, and De Beers all have policies and procedures throughout their operations to ensure product integrity. Similarly, Rosy Blue has created and implemented its own in-house policies and procedures to ensure that each and every diamond handled by the Group are either certified or warranted to be conflict-free.
Following the purchase of rough diamonds, we also have procedures and systems in place to measure control mechanisms throughout our manufacturing operations. Furthermore, any polished diamonds that we source on the market are warranted to be manufactured using rough diamonds of legitimate sources that are compliant with the Kimberley process Certification Scheme15.
Note: Rosy Blue is a client of De Beers, Rio Tinto, BHP and Alrosa.
|
Once diamonds arrive at our premises, they are all meticulously recorded and followed on our computer systems. In order to achieve this, we rely on an ERP system from JD Edwards augmented by specialist diamond stock and manufacturing system from Fantasy. This allows us to track our diamond input, manufacturing process and trading activities so that we can provide further assurance of the integrity of our products to our customers. All rough diamonds that are exported to one of our many factories are always accompanied by Kimberley Process Certificates. The factory then records the receipt details including the weight of the shipment, the number of stones, the origin and the descriptions. The diamonds are then split from one large lot into single category lots. The single category lots then go through the manufacturing process. In the manufacturing process, the diamonds are checked at different stages. This procedure also enables us to understand and evaluate our production yield, an important commercial consideration.
|
With the advent of anti-money laundry legislations, such as the USA Patriot Act, in many countries, gemstone dealers are classified as quasi-financial institutions because of the portable, high-value products that we trade and therefore are subject to the same framework as banks and other financial institutions. We have a dedicated team who follows up the ‘know-your-customer’ procedure to ensure that we verify and keep records on the customer’s identity and the beneficial owners of the client company as per AML requirements. As buyers, we are also subject to the same disclosure obligations to our suppliers. Compliance with applicable anti-money laundering legislation further enhances our ability to ensure the integrity of our supply chain and the legitimate nature of the goods that we trade.
|
|
|
 |
